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What makes the loyalty rewards token a scam?

Tone Vays

@ToneVays

Very Good Question. The FACT that it's a "Mandatory" KYC registration removes all utility of $FOX token being an anonymous censorship resistant membership in need of free market price discovery. And all you have left is an uncompliant security scam.

I understand the resistance to KYC but that’s a separate issue. Did FOX claim to be anything more than frequent flyer miles? I don’t think they set any expectations that they would be competing with XMR.

Tone Vays

@ToneVays

6:23 AM · Sep 5, 2018Twitter for iPhone

Please show me a loyalty program that needs to fluctuate in price by unregulated trading. The idea is ridiculous.

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What’s the harm in fluctuating value and free trade of loyalty points? The market will decide the value of the utility or lack thereof. And what’s wrong with unregulated (free) trading?

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Why doesn’t kraken list every scamcoin then?

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Everything is wrong with unregulated trading. It brings out the worst in human values and it gives more influence for the powerful few. Thise powerful few will not play by any ethical rule, because there is none on a unregulated trading env.

I once bought some unregulated fruit from an unregulated farmer. Felt pretty good at the time but now I’m wondering which one of us got screwed on that $1 pineapple deal.

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it makes them securities, but feel free to debate how 200 years of security law is bad